IRIL Cover Sheet Results FY02 .XLS - Aditya Birla Nuvo, Ltd

Garments– Outlookq Promising long term growth prospects‣ Fundamental shift in consumer preference from tailored to ready-to-wear productsand increasing brand consciousness to ensure 15% annual growthq Short term prospects affected - sagging consumer confidence & poor spending‣ Improvement likely, but is contingent on economic recovery‣ Reduced excise duty should strengthen prospects furtherq Madura Garments will ensure profitable growth through relentless focus ondelivering consumer value, building brands and improving efficiencies‣ Leverage strong brand image, design and product development capabilities‣ Strengthen distribution network‣ Focused advertisement efforts aimed atv Supporting Gestated Brands (LP, VH, AS & PE) to deliver high returnsv Investing in new segments and brand extensions which will incur costs now but offerlong term value viz: AS Womenswear, Suits/ Jackets and SF Jeanswearv Building Brand Equity for the newly introduced retail formats to complementaggressive geographic expansion and qualitative improvements in retail operations‣ Improve presence in the international markets‣ Flush-out supply chain inefficiencies and tighten cost structure19